Retirement goal clarity, needs estimation, and saving amount: Evidence from Hong Kong, China

Alex Yue Feng ZHU, Kee Lee Chou

Research output: Journal PublicationsJournal Article (refereed)

1 Scopus Citations


This study investigated the relationship between retirement saving needs estimation and the amount of self-reported private retirement savings amassed by working-age adults in Hong Kong, China, by focusing on the mediating role of retirement saving needs estimation between retirement goal clarity and the amount of private retirement savings. Based on the data collected from a phone survey of 958 Hong Kong workers aged 25–64 years, we found that the retirement saving needs estimation was associated with the savings of individuals over 44 years old; furthermore, it mediated the association between retirement goal clarity and self-reported private retirement savings. The findings offer theoretical contributions for financial planning conceptual frameworks and provide policy implications.

Original languageEnglish
Pages (from-to)328-342
Number of pages15
JournalJournal of Financial Counseling and Planning
Issue number2
Publication statusPublished - 2018



  • Financial planning
  • Private retirement savings
  • Retirement goal clarity
  • Saving needs estimation
  • Working-age adults

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